glennmercer
Long

EURGBP Long: Ride Wave 5

FX:EURGBP   Euro Fx/British Pound
There has been a retrace after a bullish impulse that could be the start of wave-5-of-(Y). A drop below the start of wave-i would point to deeper retrace, so stop will be placed here and we will look for a lower entry with similar setup. The R/R is about 5:1, worth the risk of testing the breakout. I will update as receive more signals.
Trade active
Trade closed: stop reached: Watch for the next possible reversal level at AB=CD to complete a possible zig-zag. I'll only buy the pullback after an impulse from this level:

snapshot
look more a downtrend for me
+1 Reply
Thanks Beny, that's a possibility as well. I am assuming with this trade that the bullish impulse to wave-5 is not yet complete. the risk to reward fits my trading style and I liked the small bullish impulse we just received. We will see in a few short hours.
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out